The industrial transaction concluded in July for £860,000 reflecting a net initial yield of 6.90%.
Jamie Addison-Scott of the Galbraith investment team said:
We are delighted to have secured this reversionary asset for JCAM. The property’s fundamentals are extremely robust and it offers the potential for rental growth in the near future.
The industrial asset is located in Coatbridge, 10 miles east of Glasgow in close proximity to the M8. The property extends to 14,497 sq ft and is let to James Donaldson Insulation Ltd at a passing rent of £62,500 p.a. (£4.31 per sq ft).
Macandrew & Jenkins provided legal advice to JCAM Investments. Lindsays and Guy Strachan of Smolka Strachan LLP advised the vendor.